NY S07711

Allows qualified empire zone enterprises to claim real property tax credits based on payments in lieu of taxes made to landlords, if the landlord has a payment in lieu of taxes agreement with the state, municipality, or public benefit corporation

Permits tax credit eligibility provided the landlord has not filed a separate claim for the same real property tax credit and has not made conflicting payments in lieu of taxes to the state, municipality, or public benefit corporation

Bases the real property tax credit on the tenant's payments in lieu of taxes and employment levels rather than direct state/municipal agreements

Applies retroactively to taxable years beginning January 1, 2006 through December 31, 2009

Takes effect immediately upon enactment